New Delhi:- Life Insurance Corporation of India has introduced LIC Smart Pension Scheme. The scheme is designed as a non-participation, non-linked scheme for individuals and groups, which focuses on savings and immediate annuities benefits. The scheme also includes arrangements for the customers of the national pension system to reach the immediate annuity benefits.
What is LIC's smart pension scheme?
LIC's Smart Pension Scheme is a non-participation, non-linked, savings and immediate annuity scheme that continuously gives income to retired people. This includes different annuity options for single and joint life annuity.
Who can buy LIC Smart Pension Scheme
This scheme is available for persons aged 18 to 100, in which age eligibility varies as per annuition option.
Which annuity options are available under this scheme?
Single Life Annuity- The annuity gives regular annuity payments throughout the lifetime.
Joint Life Anuity- Ensures continuous annuity payment for both primary and secondary annuity holders.
Features of LIC's Smart Pension Scheme
Single Premium Imidiet Annuity Plan The method of payment of entertainment options as per your requirements, the method of paying the facility to choose from the Seriesingle Life Annuity and Joint Life Annuity options-Annual, Half-AIRELI and Monthly
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